OneWater Marine To Acquire T-H Marine For ~$185M

·1 min read
  • OneWater Marine Inc (NASDAQ: ONEW) has agreed to acquire Huntsville, Alabama-based T-H Marine, a branded marine parts and accessories provider, for about $185 million.

  • The deal is anticipated to more than double the size of the services, parts & other sales of OneWater, complementing the portfolio of marine parts and accessories.

  • OneWater Marine anticipates the acquisition immediately accretive to top-line growth, operating margins, and earnings per share. The company expects the combination to reduce its exposure to the cyclical nature of new boat sales and improve overall gross margins.

  • The company expects the transaction to close in the fourth quarter of 2021.

  • OneWater Marine plans to use a combination of cash and $7 million in stock to fund the acquisition. It held $120.7 million in cash and equivalents as of June 30, 2021.

  • Price Action: ONEW shares are trading higher by 3.00% at $43.31 in premarket on the last check Thursday.

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